Bulgaria Officially Requests Convergence Reports for Euro Adoption
Bulgaria has officially requested the preparation of extraordinary convergence reports to assess the country’s readiness for joining the eurozone
Bulgaria’s balance of trade until November 2018 is negative, and stands at 167.2 million euro, with a deficit of 119.5 million euro for November 2017, the Bulgarian National Bank says, quoted by the Bulgarian National Radio.
In the January-November 2018 period, the trade balance was negative at close to 2 billion euro (3.6 percent of the GDP), with a deficit of 371.3 million euro (0.7 percent of the GDP). Over the same period of 2018 the country’s exports have gone up by 6 percent, or 547.5 million euro, compared to the previous year (46 percent of the GDP). Imports over the same period have gone up by 7.6 percent - 195.5 million euro, reaching 49.6 percent of the GDP.
According to preliminary data the net inflows of foreign direct investments in the country over January-November 2018 amount to 795.4 million euro. For November 2018 the current account balance was positive, standing at 58.6 million euro with a deficit of 26.1 million euro for November 2017.
Bulgaria is fully meeting all nominal criteria required for joining the eurozone
The introduction of the euro in Bulgaria will not lead to changes in loan or deposit interest rates
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In February, Bulgaria's annual inflation rate rose to 4%, up from 3.8% in January
Bulgaria’s prospects of joining the eurozone in January 2026 remain within reach
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